ASSOCHAM to organize 7th Global Insurance Summit to explore growth opportunity for Insurance sector

­­­Mumbai; 6th January 2014: The National Council on Insurance of ASSOCHAM is organizing the 7th Global Insurance Summit on 8th January, 2014 in Hyderabad, Andhra Pradesh. The Summit will focus on the need of simplifying the insurance process and provide financial security for the masses in India.  

The summit will be graced by Mr. E. S. Lakshmi Narasimhan, Governor of Andhra Pradesh who will share his views and suggestions on the theme. Besides, the summit will also have some of the key industry leaders such as Mr. T.S Vijayan -Chairman, IRDA; Dr. P. Nandagopal – Chairman, National Insurance Council, Assocham and MD & CEO of IndiaFirst Life Insurance; Mr. G. Srinivasan – Co Chairman, National Insurance Council, Assocham and Chairman & MD of New India Assurance and Mr. D. S. Rawat – Secretary General of Assocham to elaborate on the theme.

With more than 50 Life and Non-Life Insurance companies in operation, India has not only witnessed the fastest growth in this sector, but has also undertaken several reforms in making products and services fair, simple, transparent and affordable to all. In a bid to push the industry reach greater heights, the summit will examine the key challenges and opportunities in front of the industry.

“Increasing awareness regarding insurance products has thrown some challenges as well as opportunities before us. On one hand, it is very attractive from a stakeholder value perspective, the industry faces some strains considering the complications involved in the process. Therefore, through the summit we look forward to explore the opportunities to create a game changing insurance model that will not only help the Indian industry surge ahead but also clear the pathway for Global Insurers to reform their businesses better. The eminent personalities are invited to share their expert opinion to chalk out ways to boost further growth of the industry,” said Dr. P. Nandagopal, the Chairperson of the National Insurance Council’s Global Insurance Summit and MD & CEO of IndiaFirst Life Insurance.  


Dwelling the available opportunities and trappable resources for the industry, the summit will also discuss the impact and benefits of digitization on the industry. Further, the various sessions of the summit will delve into the dynamics of the General Insurance market to arrive at changes that could catalyze widespread reach. Further, examining the areas of product service standards and risk and claim control, the summit will consider ways by which the industry can offer a total solution that will provide not only for the monetary needs, but also for the healthcare, infrastructure and other support required by the elderly.

About ASSOCHAM National Council on Insurance

The ASSOCHAM National Council on Insurance is focused on discussing contemporary and regulatory issues for robust development of the Industry. The Council champions key Industry themes, and works with Industry Bodies and the Regulator to develop innovative solutions and further overall development of the Insurance market in India.

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